An aerial view of a Baker Hughes plant in Avenza, Italy that makes turbines for the liquefied natural gas industry. Baker Hughes posted a $9 million loss during the second quarter but sales in the LNG industry are expected to boost the Houston oilfield service company.

An aerial view of a Baker Hughes plant in Avenza, Italy that makes turbines for the liquefied natural gas industry. Baker Hughes posted a $9 million loss during the second quarter but sales in the LNG industry ... more

Photo: Baker Hughes, A GE Company

Photo: Baker Hughes, A GE Company

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An aerial view of a Baker Hughes plant in Avenza, Italy that makes turbines for the liquefied natural gas industry. Baker Hughes posted a $9 million loss during the second quarter but sales in the LNG industry are expected to boost the Houston oilfield service company.

An aerial view of a Baker Hughes plant in Avenza, Italy that makes turbines for the liquefied natural gas industry. Baker Hughes posted a $9 million loss during the second quarter but sales in the LNG industry ... more

Baker Hughes is expected to shrug off the second quarter loss amid a jump in orders from the liquefied natural gas industry.

On Monday, Baker Hughes and McDermott International won contracts to help underwater portions of Ichthys LNG, a large liquefied natural gas project off the northwest coast of Australia.

"We executed well in the second quarter and we are encouraged by strengthening international markets and the strong LNG project pipeline," Baker Hughes CEO Lorenzo Simonelli said in a statement. "Going forward, we remain focused on our financial priorities and differentiating ourselves to drive higher returns across our portfolio."

Created by theJuly 2017 merger of Baker Hughes and the oil and natural gas division of General Electric, Baker Hughes, a GE Company is headquartered in Houston and traded on the New York Stock Exchange under the stock ticker symbol BHGE.

Baker Hughes reported a $581 million profit on nearly $23 billion of revenue during 2018. The company employs more than 64,000 people in 120 nations.